The latest market report published by Credence Research, Inc. “Global Pre-Painted Galvanized Iron (PPGI) Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global pre-painted galvanized iron (PPGI) market has witnessed rapid growth in recent years and is estimated to grow at a CAGR of 8.5% between 2023 and 2030. The market was valued at USD 150.4 billion in 2022 and is anticipated to reach USD 266.22 billion in 2030.
The primary drivers of the global pre-painted galvanized iron (PPGI) market are the increasing demand for sustainable and corrosion-resistant materials in the construction and automotive sectors. PPGI offers enhanced durability, corrosion resistance, and aesthetic appeal, making it a preferred choice for various applications. The market is further driven by the expanding infrastructure projects in emerging economies, which present growth opportunities for the global PPGI market.
Despite the positive market outlook, the industry faces challenges such as the volatility of raw material prices and stringent environmental regulations related to certain chemicals and coatings. Additionally, intense competition from alternative coating materials and substitute products in the construction and automotive industries adds to the challenges faced by the PPGI market.
The global pre-painted galvanized iron (PPGI) market has witnessed rapid growth in recent years, driven by increasing construction activities, infrastructure development, and the growing automotive industry. The market is dominated by the polyester coating type segment, followed by polyurethane and polyvinylidene fluoride (PVDF). The strips and sheets product type segment holds the largest market share, while the automotive industry is the major end-use industry driving the demand for PPGI. North America leads the market, with a significant revenue share.
The market segmentation includes coating types such as polyester, polyurethane, and PVDF. Product types consist of steel coils, strips & sheets, and others. The major end-use industries for PPGI include automotive, agriculture, building & construction, electronics & electrical, and others. The market is further segmented by region, with North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa being the key regions.
The competitive landscape of the global PPGI market is characterized by the presence of key players such as ArcelorMittal, Baosteel Group, Hyundai Steel, JFE Steel Corporation, and POSCO. These companies focus on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market presence.
Vietnam Pre-Painted Galvanized Iron (PPGI) Market opportunities are currently on the rise, presenting a promising landscape for businesses and investors alike. With Vietnam's strong economic growth and increasing urbanization, there is a growing demand for construction materials, including PPGI. This market provides an opportunity for local manufacturers to expand their production capacity and cater to both domestic and international markets. The government's focus on infrastructure development further boosts this sector by creating a favorable environment for construction projects. Moreover, as sustainable practices gain momentum worldwide, there is an increasing preference for eco-friendly products such as PPGI that offer durability while reducing carbon footprints. Additionally, with advancements in technology and design capabilities in the industry, innovative applications of PPGI are being explored in various sectors like automotive manufacturing and consumer electronics.
Why to Buy This Report-
· The report provides a qualitative as well as quantitative analysis of the global Pre-Painted Galvanized Iron (PPGI) Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
· The report includes information on the competitive landscape, such as how the market's top competitors operate at the global, regional, and country levels.
· In-depth analysis of the global market segmentation on the Route of Administration and Application
· Major nations in each region with their import/export statistics
· The global Pre-Painted Galvanized Iron (PPGI) Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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Mar 12, 2020: The global Pre Painted Metal market size is expected to reach USD 27.9 billion by 2025, expanding at a CAGR of 11.2%, according to a new report by Radiant Insights, Inc. Growth in the commercial construction sector is likely to propel the product demand as it is used in facades, cladding system, and roofing structures.Pre-painted metal products such as sheets, plates, and coils are largely used in the commercial construction industry.
The product offers superior properties such as corrosion, wear, UV resistance, no environmental pollution, and durability, which resulted in the greater penetration of pre-painted products for aforementioned building applications.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/pre-painted-metal-market/request-sampleSimilarly, the product is used in manufacturing various automotive components such as oil filter caps, wiper blade assemblies, and body-in-white of cars.
North America is the fastest growing segment in terms of volume owing to growth in construction and automotive sectors, especially in U.S.
Also, increasing production of motor and electric vehicles is anticipated to drive the market over the coming years.The pre-painted metal market is fragmented in nature with the presence of established and local players such as ArcelorMittal, Tata BlueScope Steel, SSAB, Nippon Steel Corporation, American Douglas Metals, Inc., NLMK, Voestalpine AG, MMK, and Shandong Kerui Steel Plate Co., Ltd.
Rapid urbanization and growing population are likely to promote the growth of residential and commercial sectorsTransportation is the one of the fast growing segments with a CAGR of 11.7% in terms of revenue over the coming years.
Business Environment Analysis: Pre-Painted Metal Market3.6.1.
